Godflrst Church Cheltenham Ltd IA Company Ilmited by guaranteel Annual Report and Flnanclal Statements Year Ended 31 December 2023 Company rè8lstration nurnber.. 08090929 Charity reii5tration number.. 1148222
Godfirst Church Cheltenham Ltd Contents Reference and Adminlstrative Details Trustees, Report Statement of Trustees, Responsibilities Independent Exarniner's Report Statement of Flnanclal A¢tlvitles 8alaThc• Sheet 9.10 Noles to the Fin¥n¢i•l StOtemgnt5 11-21
Godfirst Church Cheltenham Ltd Reference and Administrative Details Trustees H Kellett- Church Leader T Bradbury B Gatley R Stbmp (resigned 6.11.231 J Augsburger lappolnted 9.2.231 J Dilly lappointed 26.2.241 S Parke5 (appointed 26.2.241 Key Min•i•ment H Kellett C Appel Governlni Docum•nt Memor8ndum and Artlcles olAssoclallon dated 31 May 2012 PrIn¢l1 Offl¢• 2 Mayhlll Shurdlngton Rojd Cheltenham Gloucestershlre GL52 ONI Commny Rrflstrntlon Numb•r 08090929 Ch•rtty Reilitr•tlon Numb•r 1148222 84nk•rs HSBC Bank PIC Ind•p•nd•nt Ex•mln•r Adrian Carr AAT The Accountlng Bureau Ltd 87 North Road Poole Dorset BH14 OLT
Godfirst Church Cheltenham Ltd Trustees, Report The trustees, who are the Charlty's dSrectors for the purposes of company law, have pleasure in submltting the Report and Accounts for the y•ar. The charity oper8tes under the narne"Godflr5t Church" Obl•¢t$ otthe charlty The charlty is a charitable company and Is ioverned by Its merngrandum •nd articles of Jssoc14tion, The prlmary objectlve ol the charity, as set out in the 8overnin8 docurnent, is to advonce the Christian falth in a¢cordan¢è wlth the charlty's Statement o18eliefs, in Cheltenham, and In such other parts ol the Unlted Kln8dom and the world, as thè Trustees may from tlme to tlme think flt. Summary ofthe chartty'i m•ln art1vl•S Ind achlevement5 To further the above objects ind vislon, the charity's maln activit5•5 and achievernents were as follows.. The ¢hurch began gatherln8 Informally Ir* September 20)9. At the start olthi5 reportlng peTSod we had 142 Jdults and 60 chili¢ren who would consider Godtirst their Church,. however. 8s •t 31 Dttember 2023, we had 138 adults and 53 children. Thls is the first tlme since the pttndemlc we have seen i slliht decllne In numbtrs. We meet most weeks on Sunday mornlngs at Cheltenham Ladies Colle8e. Towards the end of the last reportlng perlod, the church had begun to gather funds for the pur¢h•se of Chapel Arts, Knapp Road, ChelteTrham, GL50 3QQ. The property w•s listèd for sale at £750,OW. The purchase was further delayed by plannlng Issues from the prevlous owners,. and In luTre 2023, wlth a mortg•8e of £402.500169% LTVI and ovèr É260,CQJ ralsed from within Godfirst and with the gentrous support of partner churches allowed us to complete the purchase on 16 June 2023. In July the Trustees took the decislon to pay cff a lump sum of £58,OC() to reduce the mortgage to £344,5<s9% LTVI In order to access a lower interest rate. At the end ol the reporting period, the rnortgage with Kingdorn Bank w45 £340.336, In 2023, the building was renamed"The Chapel" The Chapel, alth0158h too Small for our Sunday mornin8 rneetings Iwlth seating for around 90 people) has provided a base for the existin6 activities of the church.. (he church offlce function,. youth and student rninis¢rie5.' evan8eli5m courses (such as the Alpha course), worship team meetings and rehearsals, the Advance theology course. prayer, and leadership rneetlngs. The ownership of The Chapel has facllltated the relaunch of our comrnunlty toddler group, plus new community ministriès such as.. Chapèl Café Iprovidlng food and a warrn space for those in needl, ThurstJay Tea after school club Iprovidin8 communlty ènd eTrtertainment for parents and kldsl, and 'Chapellas" community choir.
Godfirst Church Cheltenham Ltd Trustees, Report Gr•nts and Glvln8 The church has don•ted money to thlrd-pjrty or88nlsations and tharltles that share our values and charltable alms. We provlde flnance for local charltles such as Firnlly space and Teens In Crlsls, We operate a hardshlp lund Iln Ilne wlth one of eur charltable J1rn51 In order to allow us to support local people In deep Ilnancial nèed. Thls fund Is operated l• Ilne w5th our Wardship fund pollcy. We also Support our church plantlng netw¢rk. Advonce Movemènt UK, both dlrectly and Indlrectly by w)y ol suppcrtln8 ov¢rseJs In less developed settln85 le.8. South Africj and Nepal that Ire part ofthe Advance neOrk. We contlnue to revlew cur sile8uardlni proceéures In15ne wlth the current best practlee Is set out by Thlrtyone.. El8ht Iformerly CCPASI •nd w• h•ve worked to ensure contlnu•d fvll GDPR cornpll•nce. wlth detalls of both pollcles set out cn our webslte. In plannln8 the aciivliles of the Church, the Trustees have applled the guldance on publlc beneflt Issued by the Charltlès Commisslon. Stifflni Our stoffln8 bjse Jt the end of 2023 w15 2.8 FTE12021.. 2.61. Our 5t•ff tearn cen$5sted ol i lull tlmt Senlor Pastor, a full tlme Assoclate Postor, a Chlldren'5 Worker f¢r 5 hours10,I FTEI. an Oper•tlons M•nè8er for 12 hourJ10,34 FTEI •nd a Tre•)urer for S hour$10.14 FTEI. stru¢tuY•, GJv•rn•n¢• Ind M•n•¥•m•nt The pollcy and operatlng declslons of the chèrlty rest wlth the Dlrectors who mèet quartèrly lor, by exception, as r•qulr•d by th• n••ds Qf th• Church) to rnonltor the 8Ctlvltles of the company. The Trustees are responslble for ensurlng that Godflrst Church Cheltenharn fulff15 Its alm5. The management ol the ch•rlty Is delegated io Howard Kellett who 5eryes both 05 4 Trustee and Is employed as a leader of the churth. Staff salaries and condltSons are Set by a Trustee sub-commlttte to ensure no conflict cf Interest In thls area. Potential new trustees are Identified by the church Elders (who arè appointed to ovtrsee the Spirltual guidance ol the Church, and most of whorn are volunteers who do not slt on the boardl ond apprtsved and appointed by è vtrte of the Trustee b¢)rd. Howard has regular meeting5 Wlth the wider leader5 Iboth Trustees and volunteers) of the church. Our Treasurer prepares detalled monthly financlal reports for the Elder5 and Trustee5. Whllst the 5plrltual lejdershlp of Godfir5t Church Cheltenham lies wlth a team of four Elders, wè ensure clear delineatlon of responslbllltie5, between Trustees. Elders and staff team, Godfirst Is part of the Advance Network of Churches.
Godfirst Church CheFtenham Ltd Trustees, Report Owingth4 year tndeé 31 December 2023 th•rg was è net Inlk) of luDds of £89.886 lyear EndÈd 31 D4c•mber 2022 rt•1 Inflow of É205.0281. Thepnn¢ipal funding Sourtos of the ¢hui¢h ar•via oflenn4501 the £hurth mmbe¢s ènd aittrtd••5 th• Dlt artl rtthim•d on ih•s• Total fundry YFth• ye•1 ¥As £352,882 b¥ •noA¢lJJ tmbor2Q22 5398.9511. Ner uittenr 4ss¢ts r•I$ Th• to £358.OY312022.. 268.2071. fhL% fftckndes the2ouh4h1 Th• A5 the V¥wO1259W•shd Jn the b•nk ol wh¢h urliexnued Iw)ds. Aher makm8 re•soTh•bl th)qu. the TNstees hiv• • r•asonatsle ?xpertati¢m th•t ih•Chafty his •d•qui rw¢Jurces Ety tontlnil• In OP•rnliofialeXtsi•nfQr theloreswabl• fwi¥r• F•r thL% r•aSOD. Ih•y tOniinu• to adopi th• ioini ccncem b¥sis ifi pr•pantyR rh• finih¢i•l siat•m•Thi%. Furih•r d•tails r•yrdini th•adopiiM 01 rhtywn¢<rr can b• fwnd In th• ooI]•s. R•Nes Poky The of DK•dor4 ¥$1•bI¥ ¥ poky Wr•bY Ir••res•r¥ts th• Trust•4s d•fwA) •1 fvortnal comfflirr•¢t ¢hurch wendit¥r Iwknrh WU•testo +ppwrnafetr¥ É40SCI, threth•)Os str rhpohry to d•t•nA•ctx¥ Tetyir•d bas•d o• ihlvMlolr•sK¥•s h&l. K•y rfsks •nd un¢•rt4inti•S Th• tsroctors b•we th• tJls thanty •owatw Miplwv•si••yMd. Appr¢)pnir• pror•dur•5 to thntify. ¢Mfflrtor tlJ• Ii#s on • Plans Iw lh• futur tommitred z10Tb m brtr• Wrth our th•rii•bl• •ims • d•sir• t¥ olwbkb•Tr• Th• trust¢•iwh• •r•dtr•trors for th• purpoit of compny l•w. s•rv•d dnn8 th• Vuf •nd up to th d•1* ol thts l. Th• rnPDn 01 rh• drnlryshts prnparedt•knn8•dwM•of ol 415A otthe XKé. Kolerr
Godflrst Church Cheltenham Ltd Statement of Trustees, Responsibilities Th• Irustes Iwha Jrt a15f the director5 Qf Godllrst Chureh tholtefiham for the purposes ol compinyl•wl are r@5pon51ble for preparini th• tru5tèes' report and Ihe flnantlil SLat¢mEliiS In •fcorJaDce with lh¢ United Kitygdom Accoiintln6 Slondards Ivnll•d KSnRdom GenerallyAecepted Arcouniini Pracllc41 nd •ppSirab5t l•w and rÈ8ul•ll¢n5. Compatsy law reuulres thg Irustees to pr•pir• Ilnanci01 statements tor each nnancl•l y•aT Und•r ornpitty l•w Ihe trv51a•s must not approve thi flnanciJl st•i•rn4th1s vnléss they JrE sarlslled rhat r•sourr.•5 Ind •ppll£&tion of r•sour¢es. in¢ludln8 Its Incom¢ and •xpendlture, for tl?It peried. In slect 5Ult•bl •¢countln8 po11cl•s Ind Ipply them conslsltntly,. observ• th• m•ihods 4Trd prlDtlpl•& In th? Chaiities SORP.. mik• ludiernents Ind •stimii•s tliat )re r¢ison•ble ind prud•nt., st•le whelh•r JKJpllc•bl UK Atcounlln8 siand•rds hèvo joen ltrllowed. %ubie¢t$ 10 an¥ presumt Ihat tlie charii•ble tompjny wlll ¢Otyiinue In Liuslne51. The Iiu5r••i •rt respcnslbl• loi. k•plni ad•4unl• •¢eouttllni rec¢rds thit •r svlfS¢l•iit to show •nd IINh¢fil position •f th• eli•rithbltr comp•ny and •nibl• them to eysur• thil thE fln•ncial stat•rnonts cemply wllh tli• Comp4hleJ A¢t 2006. Th•y •re •1$0 ¢¢5pon5ibl• lor %•fi8v•rdlDi th• ass•ii ol Ihp. ehirll•bl• comp4ny 4nd hen£4 tor takin8 reaètrn•ble si*ps lor th¢ pre¥•rtlion d¢lecllcn DI fraud Approved by the trujtees of the chèrlty on Ind %i8ptd on Its beh•ll by.. ward Kellttt
Godfirst Church Cheltenham Ltd Independent Examiner's Report to the trustees of Godfirst Church Cheltenham ndependent eximln•r's r•port to th• trust••s of Godllrst Church (h••nh•M Ch•rttabl• Company Ilhe Company'l I report to the charity trustees on my exarnination of the accounts of the Company for the year ended 31 Oecernbei 2023. R•$ponslbllltl*i ind b•ili of report As the charity's trustees of the Company land also Its dSrectors for the purposes of company lawl you are responsSble fgr the preparation gf the Jccount5 In accordance wlth the requirement5 of the Companies Act 261'the 21J)6 Act'l. HJvin8 Satisfied myself that the accounts of the Company are not required to be audited under Part 16 01 the 2LK)6 Act and are eliglble for the independent examination, l report in respect of my exarnlnation of your charity's accounts as carried out undir section 145 of the Charitlès Act 20LI I'lhe 2011 Act'l. In ¢arTyini out my examlnation I have followed the Directions liven by the CharSty Commission under section 14515) Ibl of the 2011 Act. Independent examlner'i Jt•tement I have completed my examlnation. I conflrm that no Matters have come to rny attentlon in connectlon wlth the examlnation glvlng me cause to believe.. Accountin8 records were not kept In respeci of the Company as requlred by sectlon 386 of the 2CQ6 Act, or The accounts do not accord with thosè records,. or The accounts do not comply wlth the accountin8 requirements of sectlon 396 of the 2CQ6 A¢t other than any requirement that the accounts glve a'true and fair view, which15 not g m¥tter considered 45 P¥rt of an independent ex¥min4tion,' or The accounts have not been prepared Sn accordance with the methods and princlplés of the Statement of Recommended Practl¢e for accounting and reporting by charSties lapplicable to charities preparing their accounts in accordance with the Financial Reportln8 Standard appSicable in the UK and Republic of Ireland IFRS 10211.
Godfirst Church Cheltenham Ltd Independent Examiner's Report to the trustees of Godfirst Church Cheltenham I have no concerns and have come across no other matters in conneciion with the examlnaiSon t9 which attention should be drawn in thls report in order to enable a proper understanding ol the accounts to be reached. Adrian Carr AAT The Acrountin8 Bureau Ltd 87 North Aoad Park5tone Poole Dorset 8H14 OLT October 2024
Godflrst Church Cheltenham Ltd Statement of Financial Activities for the Year Ended 31 December 2023 UTrrnJtrlrtqd lundi R•strlrted lund5 rotsl ioij Not• Inwm• •nd Endgwm•nti from.. Donations ind lesacles Ch•riiablfy ictivhe5 InvKlrn•nt5 other income Tat•l Ineom• 271,954 8,268 1,636 120 281,97B 70,904 342.858 8,268 1,636 120 352,881 70.504 Expl41• on.. Ch#rllablts )rtIVleS Totil Exp•ndltur• 261,896 261,896 262.996 262.998 i.ItX) Incomell•xpwdltur•l fj9,804 89,886 Tr•Mf•rt b•tyM•R Ind$ 12 326,139 )26,139 M•t mow4m•nt fundi 346.221 256,335 89,886 qcon<lll•thin of lundi 701al funds brou8hl foFwird Totol funds ¢irrled f0ry44rd 11,812 358,093 256,3JS 16¥,IUF 358.093 12 R•st•t•d Ttknl ioiz unrnstrlcl•d lund5 R•strkt•d lund5 Not• dnd EndwM•nts fr•M'. O¢nafi¢ns Ind le8acles Ch•rii4tr1¢ alllvttles Invp5trnent5 othcr Incorne r*x•I In¢om• l95,198 2,597 362 197,119 3.675 392,317 6,271 362 198,157 2ts),794 398,951 Expandttur• on.. Charllable aalV4qS Yvtwl Exp•Ddltvr• 185,691 185,691 8,232 8,232 193,923 193,923 N•t Incwwll•xp•ndiiur•l 12,466 192.562 205,¢2J Tr4nif•n bets¥een funds 13 6J,196 63,196 N•t Mm•nI In funth 50,730 255.7 205,028 Re¢onclll4tlon of lundi Total fund5 brouÉhi forward Total fund5 corrled forward 62,602 11,872 577 256,335 63,179 268,207 17 All of the charlty's activlti•s dori¥e fr¢m corttlnu180per4tiONSdUl1s theabovetwo p+rlods. Thtfunds breakdown for 20231$ Shown In note 17.
Godflrst Church Cheltenham Ltd Balance Sheet 31 December 2023 R•st•t•d Totsl 2022 UnNrtrf¢t•d lund¥ g•strfcl•d funds 2023 Not• Flx•d •i¥•ti Tan8Sble asset5 658,779 658,779 2,177 Curr•nt •u•ts Debtors C•sh li b•nk •nd In hand 8.078 $0,259 58,337 8,078 50,259 58,337 1,583 287,449 289,032 Cr•d9T1.. Amounl•l•lllni du• wlthln on• y••r io 20,341 20,341 23,QJ2 a7,996 37,996 266,030 Cr•drtgrA'. Amounts l•llln4 du• iftar on• y•ir li 338,682 - 338,682 Totil n•t •i¥•ts 358 093 268 207 Fund b11••* Unr•strlrt•d lund$ G•n•r•l fund5 es14noted funds 12 358,093 351,093 11,872 358,093 358.093 11,872 Restrlcted fund5 256,33S Toi•l fvndi 358 093 268 207
Godfirst Church Cheltenham Ltd Ba13nce Shppt 31 December 2023 Th•finalI+ 31 fcEmtr 2023 ther71¥ was enritjed to Irrm •utht undw sectiw 477 01 ib• Crynpyes Aa (h"re(tors' rtsw)Silxfrts. yN¢ qstsDn th acrordatxe wilh serti¢yn 476., and - Tht tSil•ctL a¢kntswlèO8é thtii rsponb1hti¢5 for comptyiniwith the requlrthremts f th• Art Mth respecr to •ccountlni retords aod Ihe preparation ol •UJvnt subipct io rhe corryThrt rrfwn•. ThÈ hnancs•l stsiemenis or 12 to 26 w•rt apprry4od by th* irrn, •Ad aulhori lor . I?JJD12¢a4. Keltt Iru Compmry R¢¢irtrakn t4tsmber'. 0tr59J929 io
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 Aefountln¥ poll<l•s Summlryof ilinSflc•nt •ecountlni pollcl•i and k•y iccountlni •stlm•t•i The prlnclpal accountlng pollcle5 jpplled In the preparatlon of these flnanclal sraternents are set out below. These pollcies have been conslstently opplled to all the ytlf5 presented, unless otherwlsè stated. st•t•m•nt of ¢ompllin¢• The finanel•l statements h•ve been prepared In accordance wlth Accountlng ind RepcrtSnR bv Charltles., Statement of Recommended Pr4Ctl¢e èppllcible to Chèrlties preparln8 thelr jecounts In accordance wlth the Financlal Reportlng 5t8nd4rd app15cable In the VK and Republlc of Ireland IFRS IQ21 (effective l Jonuary 20151. ICh•ritl•4 SORP IFRS 10211, the Fln•n¢l•l R•portln8 St•ndard 4pp15¢4blè In the UK •nd Republ1¢ of Irellnd IFRS1021 Ind the Cornplnles Act 2Cf6. 8451$ of Pr•rItIOn Ggdflrst Church Cheltenharn Is a re815terèd eharlty, re81stratlon numb•r 1148222, company number 0809J929, re8lsiered In the Unlted Klngdom. The iddres5 of the charity is glven In the reference and Idrnlnstratlve detslls on pige l of these flnonclal Statements. The nature of the ¢h•rlty's ¢per?tSons and princlpal activities ire described in the Trustees, annual report, The chirlty con5tltute* i pub15c benefit entlty is dèfined by FRS 102. The ftnanclal statements arè pr•p•r•d ¢n • ioln8 concern b•sls und•r tht hlstorl<•l cost c?nv•ntl¢n, modlfled to Include certaln items at fair value. The Ilnanclal statements are prepared In sterllng whlch Is the lunctSonal Currency ol the chirlty and rounded to thi neart6t whtsl• pout)d. Ex•mptlon from pr•p•rlnq 4 e•sh Ilow Jtit•m•nt The charlty ha5 Jdopted 8ulle¢ln I published on 2 February 2016 and have thtrelore not IncludEd cash flow statement In these flnanclal stètements. In¢om• 4nd •ndowm•nts All income is re¢o8nised once the charlty has entltlernent to the Incorne, It Is probable that the Income wlll be recelved and the amount cf the Income recelvable can be measured re15ably. Donotlons und lego¢les Donations Ire re¢o8nlsed when the charity has èe•n n¢tifled In writln8 of both the amount and settlement dale. In the eveni that a donation Is subject to conditlon thèt require a level of performin¢e by the charity before the ¢h•rlty is entitled to the funds, the incorne Is deferred and not recognlsed untll elther rhose condltlons are fully rnet, or thè fulfllrnent of those condltlon515 wholly within the control of the charity and it is probable that these condition5 wlll be lullilled in the reporting perlod. li
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 Exwndlturl All expendlture is reco6nlsed once there Is a legal or con5tru¢tlve oblllatlon to thèt expendlture, It Is probable settlement Ss requlred and the amount Can be measured rellably. All costs are allocated to the appll¢able expendlture he•dln8 that a88re84te slmll•r Costs to th)t category. whe Costs cannot be dlrectly attrlbuted to partlcular headlngs they have been allocated on J ba515 consistent wlth the use of resources, wlth central st•ff c¢sts allocated on the basls of tlme spent, and depreclation charges allocated on the portlon of the Jsset's Use, Other sUPPOrt C05t5 art allocated based on the spre•d olst4ff costs. Churftoble uctfvltls Charltable expendlture comprlses thosè costs Sncurred by the charlty In the dellvery of Its actlvltles and servlces for It$ benefitiarles. It Include$ both costs that can be allocated dliectly to such actlvltles and those costs of an Indlrect nature necessary to support them. Grnntprovlslons Provlslgns for 8rant5 Jre made when the Intentlon to make J 8fant has been commuttlcattd to the reclplent but there 55 uncert•lnty about elther the tlmlng of the grant or the amount of Brant payable. G¢v•rn•n¢• costs Thès Include the costs attrlbutablt to the ¢hèrlty's compll•nce wlth tonstltutlonal and statutory rtquiremtnt5, Includln8 iudlt, strattBlt mana8mènt and trust•'s m••tln8s Ind r•lmburs•d expenses. T•xatlon The <harlty Is consldered to pass th¢ tests $¢1 out In P•r•Braph I Schedule 6 of the Flnance Art 2010 nd therefore It meet5 the dennltlon of a chJrtllJble compjny for UK corporatlon tax purposes, Accordlngly, the charltybs PQtentlally exempt from taxatlon In re5pett of Income or Capital galns rettlved within tate8orle5 covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 OT 5ctlon 256 of the T•xatlon of Chor8eabl• Galn5 Act 1992, to th• •xtnt that $u¢h Income or8alns art pplled emcluslvely to charltable purposes. T•nilbl¢ flx•d •ss•ts Indlvldual fixed assets are Inltlally re¢grded at c¢st, less •ny subsequent accurnulated depre¢l•tlon and subsequent 4ccurnulated lrnpalrment losses. 12
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 D•pr•¢l•tlon and •mortls•tlon Depreclation is provided on tangible fixed Issets so as to wrlte off the cost orvaluatlon, less any estlmated resldual value, over thelr expected u5¢ful economlc Ilfè as follows.. Ass•t cliss Flxture5, fittlnRs and equlpment D•pr¢clatlon ffl•thpd ind rat• 25% per annum on a Teduclng bal4nce basls Church property and Improvements 2% str•l8ht Ilne bas1$ sh •nd clsh •qulvil•nts Cash and c•sh ¢qu)IentS comprl3e ca>h on hand and clll deposlts, and other Sort-terrn hlihly Ilquld Investments th4t are readlly convertlble to a known amount of cash and are 5ublect to an Inslinlflcant rlsk ol¢hanie In vjlue, Borrowlny Intèr5t-bearln8 borrowlngs are Inltlally recorded it falr value, net of transactlon costs. Interest- be4rln8 b?rrowln8s are gubsequently carrled jt amortlsed cost, wlth the dlfference betweèn tht proteeds, net of transactlon costs. and the amount due on redernptlon belng recognlsed as a ¢harye to the Ststement of Flnan¢l•l Acllvltles over the perlod of the relevant borrowln6. Interest expense Is reco8nl>ed on the b•sl$ of the effertfve Inter5t rnethod ond Is Included In Interest pjyable and slmllar charges. Borrowlngs are classlfied as current Ilabllltles unless the charlty hJ5 an uncondltlonal rl8hi to defer settlement of the Il•blllty for at leat twelve months after the reportlng dite. Fund rtru¢lur• Unrtstricttd Income fvnds are general fvnd5 that are avall?ble ft>r use •t the trusteè5' dls¢rrtlon In fvrtherance of the oblectlves of the chorltv. Deslgnated funds are unrestrl£ted fund5 set aslde for spteffic purposes at the dlscretloTh of th• trustees. Restrlcted Income funds are those donated for use In a partlclslar arej or lor speclfic purposes, the vse of whlch Is Ttstritted to that arèa OT purposè. P•nslons •nd oth•r post r•tlrem•nt obllytloni The cornpany offers a deflned contrlbutlon penslon scheme. Contrlbutions are char8ed in the Income and expendlture account as they become payable In accordance wlth the rules of the scheme. 13
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 Income frorn donatnI ind l•yct•s Restated Tgtsl 2022 Unr•strkt•d A•rtrlrt•d fvnds lunds Tot•1 2023 Doftatlons and legacles,. Donatlons of cash and slmll•r Glft 41d reclJlmed 233,762 38,192 67.985 2,919 301,747 41,111 335,915 56.402 271,954 70,904 342,858 392,317 In(om• from th4rlt•bl• 4rtIvl•S Unr•strlct•d R•strlrt•d fvnds lundi Totsl 2021 Tot•1 2022 chUh courses and events 8,268 8,268 6,272 8,268 8.268 6,272 I$1m•nt In¢om• Unr•$trlct•d lunds R•rtrlrt•d funds Tot•1 2023 Tot41 Z022 8•nk Interest 1,636 1.636 362 1,636 1.636 362 Oth•r In¢oM• Unr•strlrted fundi Restrlrted funds Tot•1 2021 Tot•1 2022 Chapel arts rental 120 120 120 120 14
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 Epandltur• on ch4rtt•bl• actlvttl•s Unr•$trlrt•d fundi R•rtrkt•d fvnds Total 2023 Totsl 2022 Costs In¢urr•d dlr•¢tly on sp•cllk •ctlvltl•s Employment related (note 71 121,794 Staff costs 789 Conferenceg and trJlnln8 4,415 Advertlsln8 5,552 Church a£tlvltles 15.689 Venue hlre 20,823 Guest speakers 1.099 Grants piyable (note 6cl 11,263 Chape1 runnlng costs 6,761 M?rt808e cost5 13,350 121,794 789 4,415 5,552 15,689 20.823 1.099 12.363 6,761 13,350 105,6CQ 1,028 16,204 283 13,048 Z2,483 2,520 17,559 I.IDJ 201.535 I,Ic 202,635 178.72S Unr•strlrt•d fvnd• R••trlct•d funds Total 2023 Tot1 2022 Colts In¢urr•d on wpport Ind •drnlnhtr•tlon Independent Exjmlner's rtmuneratlon 3,480 Office costs, Includlng equ5prnent 10,508 Depreclatlon of tanglble assets 20,259 Le8al and profes$lonal fees 23,728 Insurance 2,386 3,480 10,508 20,259 23,728 2,386 2.040 10,287 2,127 744 60,361 60,361 15,198 Totsl •Mp•ndltur• 261,896 I,IDJ 262.996 193,923 Is
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 Gr•nts p•y•bl• IbutitIOnS Indlvldu•li 2023 Mlsslonary support Rellef of proverty 10,6CQ 663 9QJ 1.563 11,263 I,ICA) 12,363 10,8 The comparat*$ for thè pmlous yèar are as foll¢ws'. Instltutloni Indlvlduili 2022 Mlsslonary support R•llef of proverty 17,146 113 3QJ 413 17,259 3Cx) 17,559 17,146 The charlty's prlntlpal grants to Instltutlons comprfsed.. 2023 2022 Advanfe Movement VX God's Trlbe Church Tanzanla F)mlly Space Teens In Crlsls Re£onclllatlon Road CAP Grants to Inititutlons for less th•n £l,ClJJ e•th 8.4 1,8 2CQ 2,2CQ 200 6,510 1,5Ch) 136 17,146 200 10,8(M) 16
Godf5rst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 AnJlyil¥ ol it•ff ¢oits, key personnel •nd trustee rernuner4tlon The a¥gregaie payroll costs were as follows.. 2013 2022 Wages and salaries Ernployer's national insurance ¢ontrlbutSons Ernployer'5 pension contributions 106,270 4,555 10,969 121,794 94,798 4,064 6,738 105,600 The monthly average number Of persons Ilncludin8 5enlor m•n•gemtnt team) employed by the charity during the year expressed as full time equivalents was as follows.. 2023 No 2022 No Staff No staff received sal•rie$ at • rate of more th•n £60,000 per annum12022'. none). Durlng the year employer's penslon contrlbutlons ttstallln8 £10,96912022'. £6,7381 wert payable to defined contribution personal pension s¢hemes. Penslon contributlons tot•llin8 £68012022.. £3591 were owed at the balance sheet date. 17
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 Tan8lbl• fix•d ass•ls Flxtures and Ilttln85 Church Mu51cal property and e4ulpment Improvements Total Cost At l January 2023 Addltlons 10,634 10,634 676,861 26,861 6SO,OCQ At 31 Oetrnber 2023 26,861 10,634 650,000 687,495 Depreclatlon At l January 2023 Charge for the year 8,457 SM 8,457 20,259 6,715 13,000 At 31 O•¢ernber 2023 6,715 9,001 13,000 28,716 N•t book value At 31 Decernber 2023 20,146 1,633 637,000 658,779 At 31 December 2022 2.177 2,177 Durlng the flnancial yeai the charity purchased a propeity known 85 The Ch•pel on Kn•pp Road, Cheltenham. Debtors 2023 2022 Tax rtgverable Other debtors Prepayments and accrued Income 1,071 4,078 505 1,583 8,078 18
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 io Cr•dltors'. •mounts t4111ni du• wlthln on• y•4r 2023 2022 3.674 3,048 1,579 12,040 Other taxatlon &nd soclal seeuritv Other tred5tors Accruals Deferred income Grant obllgatlons 2,015 1.247 4,140 15,6CQ 23,C02 20,>11 Crèditors duè wlthin on year Incl¢Jdes the followln8 Ilabllltles, on whlch securlty has been glven by the ¢harlty'. 2023 2022 Bank loans 3,674 Th•r Is ) Itgal charge In resp*¢t of the property m¢rtg4ge fr¢m Kln8dom Bank. Th• mortgage Is se¢ured agjlnst the The Chapel, Knappi Road, Chelt¢nharn, GLSO 3Q Cr•dltors'. •mounts l•lllni du• •ft•r on• y••r 2023 Z022 84nk l¢•ns 338,682 Credlt¢r$ 4mounts fallin8 due èfter rnore th•n one yejr Includes the followln8 Ilabllltle5, on whl¢h securlty has tseen 8lven by the charlty.. 2023 Z022 B•nk loan 1-2 years Bank loan 2-5 years B•nk loan > 5 years 3.674 11,022 323,986 33B,682 Included In the credltor5 are the followln8 amounts due after rnore than flve ye4rs.' 2023 2022 After rnore than ffve year5 323,986 19
Godflrst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 12 Funds 8ilan¢e at l January 2023 B•lance at 31 December 2023 Ineomlni resources Re•our<ei expended Tr•nif•rn Unrestrlcted fundi General Designated 11,872 281,978 - 261,896 326,139 358,093 11,872 281,978 . 261,896 326,139 358,093 R•ilrl¢t•d fynd$ 256,335 70,904 I,ioo - 326,139 Tot•1 fundi 268,207 352.882 - 262,996 358,093 Re$tat•d B•l4nce •t 31 December 2022 Balance •t l January zozi In¢omlni r•sour¢•s Resoui¢e$ •xp•ndod Tr•nif•rs Unr•strlrted fundi G•ner81 Desl8nated 1,631 60,971 62,602 198,IS7 . 185,691 2,225 60,971 63,196 11,872 198,157 - 185,691 11,872 R•itrl¢ted funds 577 200,794 8,232 63,196 256,335 Tot•1 fund$ 63,179 398,951 . 193.923 268,207 The transfer of funds betweèn rèstrltttd and unrestrlcted relates to the costs associated wlth the purchas* of The Chapel and the additlonal fixtures and fittinqs required to make it functional. Whllst the funds donated to the Chapel purchase were restricted, the board has agreed that the Chapel should be considered an unrestrlcted asset by way of the Common understandln8 that It would be purchased and used for any charitable purpose zt the di5cretlon of the board and Churth leadership. 20
Godflrst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2023 13 R•rt•t•m•nt of aceounti for th• Iln•nclal y••r •ndlni 310ecemb•r 2022 In 2021 the charlty started a carnpal8n to raise funds for 4 new ¢hurch. This culmlnated wSth the pur¢hase ¢f "The Chapel" in Cheltenham in July 2023. The orlglnal financial 5taternents for the year ended 31 December 2023 Shows donations provlded towjrds the purchase és designated unrestrlcted funds. The Trustees have since decided that due to the nature ol the appeal and the fact that donors were specSflcally informed that the funds raised were to be Spent on the propèrty pur¢h•se the funds should be shown In the accounts as belng restrlcted. Therefore the c¢mp•r¥tive figures for the year to 31 December 2022 In these flnan¢lal statements h4ve been restated to show all donatlons towards the n•w prop•rty as being restricted. 21